SANTA ANA, Calif.--(EON: Enhanced Online News)--Cold Genesys Inc., a clinical-stage oncolytic immunotherapy company,
today announced the successful completion of a Series B financing co-led
by Ally Bridge Group and WI Harper Group with participation from
Whitesun Healthcare Ventures and Song Hong Fang. The insider-initiated
$10 million Series B financing will advance Cold
Genesys’ investigational oncolytic immunotherapy CG0070 in
a pivotal study (BOND II) that is currently enrolling 122 patients
with high-risk non-muscle invasive bladder cancer (NMIBC) who have
failed first-line BCG therapy. In addition, proceeds from this financing
will be used to develop the combination of CG0070 with immune checkpoint
modulators in multiple Phase I/II studies for different solid tumor
indications.

“We believe that CG0070 has
potential to help patients in several cancer types based on its
mechanism of action to promote tumor antigen release and presentation,
resulting in an activation of a durable and systemic anti-tumor immune
response in patients.”

CG0070 is an investigational oncolytic immunotherapy designed to
selectively replicate in tumors (but not normal tissue) and to elicit an
immune response against cancer cells.

Mr. Peter Liu, Chairman of WI Harper Group commented, "WI Harper is
excited to partner with Cold Genesys, as they seek to revolutionize the
advancement of modern cancer treatment. Cold Genesys’ world-leading
technology and talented management team will continue to leverage its
oncolytic cancer immunotherapy to gain a dominate position in the
bladder cancer space, and selectively drive expansion into other cancer
types. We look forward to partnering with Cold Genesys to build a world
class company.” Mr. Liu further said, "We believe that CG0070 has
potential to help patients in several cancer types based on its
mechanism of action to promote tumor antigen release and presentation,
resulting in an activation of a durable and systemic anti-tumor immune
response in patients."

“The recent success and approvals of immune checkpoint modulation
therapies bring new hope to cancer patients; however, still only 20% of
late stage patients respond to such therapies in a meaningful way, such
as a complete or a durable response,” said Alex Yeung, MBBS, Chief
Executive Officer and Chairman of Cold Genesys. “We are committed to
help more cancer patients benefit from cancer immunotherapies. We
believe that the scientific and clinical rationale for combining CG0070
and immune checkpoint modulators is sound: to first activate an
anti-tumor immune response with CG0070 and to block T cell checkpoints
to potentially increase the anti-tumor activity relative to each agent
alone.”

In conjunction with the financing, Arthur Kuan, a founding member of
Ally Bridge Group and Chief Operating Officer of Cold Genesys, will join
the Cold Genesys Board of Directors.

About CG0070

CG0070 is an investigational oncolytic immunotherapy based on a modified
common cold virus backbone that contains a cancer-specific promoter and
a GM-CSF transgene. CG0070 was designed to work in two important and
complementary ways. First, it replicates inside the tumor’s cells
causing tumor cell lysis and immunogenic cell death. Then, the rupture
of the cancer cells can release tumor-derived antigens, along with
GM-CSF, that can stimulate a systemic anti-tumor immune response that
involves the body’s own white blood cells.

The scientific rationale and clinical profile of CG0070 makes it an
ideal agent to be developed for a variety of solid tumor types in
combination with immune checkpoint modulators.

About Cold Genesys Inc.

Cold Genesys, Inc. is a clinical-stage immuno-oncology company focused
on the development of oncolytic immunotherapies to combat cancer. In
2010, Cold Genesys acquired exclusive worldwide rights to develop CG0070
from BioSante Pharmaceuticals. CG0070 is currently under investigation
in a Phase II, single-arm, open-label, pivotal study (BOND II) for
patients with high-risk non-muscle invasive bladder cancer (NMIBC) who
have failed BCG therapy and refused cystectomy. In addition, Cold
Genesys is exploring the use of CG0070 in combination with immune
checkpoint modulators in different solid tumors.

Ally Bridge Group, founded and led by Frank Yu, is a global
healthcare-focused, multi-stage investment platform with bases in Hong
Kong and the United States. Ally Bridge Group and its affiliates manage
over US$1 billion in assets in China, the United States, and Europe, and
have expertise in cementing strategic partnerships between emerging
healthcare companies and industry leaders, and across different
geographies, especially between the United States and China.

About WI Harper Group

WI Harper is a global venture capital firm managing US$850 million of
invested capital through dedicated professionals located in San
Francisco, Beijing, and Taipei. Founded in 1996 by venture capital
pioneer Peter Liu, the firm has built a fully integrated platform
dedicated to investing in the U.S and Greater China. The Firm targets
early-stage technology and healthcare companies using a disciplined
research-focused approach, while combining value add strategies to best
assist entrepreneurs in expanding across global markets. To date, WI
Harper has deployed capital into over 300 investments across eight funds
and seen in excess of 80 successful liquidity events.